Cwm LLC Acquires 6,063 Shares of Park Hotels & Resorts Inc. $PK

Cwm LLC grew its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 4.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 132,362 shares of the financial services provider’s stock after acquiring an additional 6,063 shares during the quarter. Cwm LLC owned 0.07% of Park Hotels & Resorts worth $1,354,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Spire Wealth Management boosted its holdings in shares of Park Hotels & Resorts by 47.1% in the first quarter. Spire Wealth Management now owns 7,625 shares of the financial services provider’s stock valued at $81,000 after buying an additional 2,440 shares during the period. Strs Ohio bought a new stake in Park Hotels & Resorts in the 1st quarter valued at $5,593,000. Parallel Advisors LLC boosted its stake in Park Hotels & Resorts by 374.8% in the 2nd quarter. Parallel Advisors LLC now owns 29,843 shares of the financial services provider’s stock worth $305,000 after purchasing an additional 23,558 shares during the period. Advisors Asset Management Inc. boosted its stake in Park Hotels & Resorts by 47.2% in the 1st quarter. Advisors Asset Management Inc. now owns 126,739 shares of the financial services provider’s stock worth $1,354,000 after purchasing an additional 40,666 shares during the period. Finally, Caxton Associates LLP bought a new position in Park Hotels & Resorts during the 1st quarter worth about $324,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PK shares. UBS Group boosted their price target on Park Hotels & Resorts from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Monday, October 6th. Weiss Ratings restated a “hold (c)” rating on shares of Park Hotels & Resorts in a research note on Wednesday, October 8th. Citigroup downgraded Park Hotels & Resorts from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $13.00 to $12.00 in a research report on Tuesday, September 9th. Cantor Fitzgerald began coverage on shares of Park Hotels & Resorts in a report on Wednesday, October 1st. They issued a “neutral” rating and a $12.00 price objective on the stock. Finally, JPMorgan Chase & Co. began coverage on shares of Park Hotels & Resorts in a research report on Monday, June 23rd. They issued an “underweight” rating and a $10.00 price objective on the stock. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $12.00.

Park Hotels & Resorts Stock Performance

Shares of PK opened at $10.88 on Tuesday. The company has a market cap of $2.18 billion, a PE ratio of 40.31 and a beta of 1.83. The firm has a 50-day moving average of $11.42 and a 200-day moving average of $10.73. Park Hotels & Resorts Inc. has a one year low of $8.27 and a one year high of $16.23. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.16 and a quick ratio of 1.16.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. The firm had revenue of $672.00 million for the quarter, compared to the consensus estimate of $672.37 million. Park Hotels & Resorts had a return on equity of 0.76% and a net margin of 2.25%.The business’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.65 earnings per share. Park Hotels & Resorts has set its FY 2025 guidance at 1.820-2.080 EPS. As a group, equities analysts forecast that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 9.2%. The ex-dividend date was Tuesday, September 30th. Park Hotels & Resorts’s dividend payout ratio (DPR) is 370.37%.

About Park Hotels & Resorts

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.